VA mortgages for disabled veterans are home loans guaranteed by the United States Department of Veterans Affairs (the VA). These advantages are exclusive for eligible borrowers who are seeking to refinance their home.
For veterans with a disability, a VA home loan can be a life-changing path to homeownership. Aside from the typical VA mortgage perks, such as being exempt from paying private mortgage insurance (PMI), wounded service veterans are eligible for several additional perks. They are designed to make obtaining a home loan as easy as possible.
Qualifying veterans who apply for this loan may list any disability compensation as income when they apply. As with any other loan, the higher your income, the more likely you are to be approved for your purchase or refinance.
Disabled veterans seeking a VA loan may be eligible for federal grants to help them buy or build their new home. Access to these grants will depend on the disability rating assigned to you by the VA and can be an excellent opportunity to help those who served our country live independently.
Depending on the property and the veteran’s level of entitlements and existing debt, veterans with disabilities may be exempt from some associated closing costs. The exact numbers will vary state-by-state. For more on this topic, and other related topics, you can explore our resources for VA borrowers.
VA loans for disabled veterans are a genuine opportunity to improve a former service member’s quality of life, by providing access to housing that meets their needs. If you need assistance navigating the VA loan process, feel free to contact The Federal Savings Bank at +1 877-788-3580, or by exploring our VA loan options. Our team of VA lending specialists is ready to be your guide.
Subject to credit approval. Terms and conditions may apply. Subject to VA eligibility requirements. Property insurance is required on all loans secured by property.